threat to national unity and according to a latest survey, a significant majority of the country is again the plan. a chemical plant explosion in the u. s. thank you. been annoy, has sent massive plains and black smoke billowing high into the air authorities of all the evacuation of local residents. now injuries have been reported the chem tool factories, and she's a statement saying that it is still investigating the cause of the blast. meanwhile, 35 people have been injured by a large, lost in the russian city of nova bisk tanner in critical condition. the exposure came after fire broke out of the petrol station with the accident. apparently involving a delivery truck. firefighters were hampered by fix smoke, although they have no portent displace joyous. you see that brings you up today more from us in half and me

when i was shot the wrong one, i'll just don't the room. yes. to shape out the thing because the after an engagement equals the trail, when so many find themselves, well, the part we choose to look for common ground the the with i'm action or it has here, we're going under grounding of the narratives. the so called mainstream media will

give you coming up in the show was boris johnson's g 7 conference, the nail in the coffin of neo liberalism with no china russia presents in coldwell that ahead of wednesdays. putin. by the summit in geneva, we investigated china sees the future of mankind and where the western democracy is amiss. all the small coming up in today's edition of going underground over the weekend, the circle g 7 countries, including the u. s. and the u. k. met in cornwall for its annual summit that some of accused of repelling and anti russia. and he, china, agenda, west and relations with one of the world's largest economies. china of argument, we shall know point, particularly in the wake of accusations over a lot of bleak and we get genocide. nevertheless, communist china is the only major economy that hit record economic growth in the 1st quarter of this year. amidst the current pandemic. joining me now for a special show from shanghai as venture capitalist and political scientist. eric lee, thanks so much eric for coming on. the g stands for a group, but i don't know whether you think it could stand for globalization. you said

before that globalized door globalism, injected globalization is dead, has been dead for a while. was the g 7 basically another funeral? well, thank you for having the i one call the funeral. it it's, it's a small party, you know, listen, i grew up my high school. i went to high school, 300 kids just in my class. well, if you want to have a party with just 7 people, you could do. that's okay. but i tell you these, these guys, so i didn't go very far in life. maybe go a far life because they wanted to nationalist enough. well, no, they were to exclusive to too much into themselves and they thought they were hot. they were bullied and they could run the world was much larger than that. and

you've said that you can trace the current society as, as configured in western europe to, to new liberal reforms after the fall of the berlin wall. you see, one of us swathes of the world has basically failed. they've failed western europe is failed. the 28 crash. i think you said the china failed to understand quite how cataclysmic, the so called western economic crisis was that we're still living with today despite the impact of the panoramic. well, i think it all transpired at the end of the cold war. and as we all know, america and west one, the war are somewhat de la co. but since then, i think western society has gone on an indian logic who say within

their own country, they thought they got the magic formula, which is globalism or liberalism taking around the world liberal market economics. electoral democracy, all these things they think is what made them succeed and they're going to universalize it and push it to the extreme in their own countries. and that led to the new liberal doctrine of economically and politically and socially if you will. and i think i have run the ground in the past 10 years. they've gone too far and left to great unraveling of their own societies. and a large number of a vast majority of the countries that adopted those values. and those systems are not succeeding. developing countries among developing countries,

post cold war china is the only major country that had really prosper and delivered for large number of people. delivered to them a better life in the world really. and the analysis that you'll see in the west for that is because it abandoned socialism. and so you said actually the years between 949 and 979 of state socialism were the fundamentals upon which the chinese 21st century was built. this is, this is being evolution from the time of the creation of the people's republic. well, yes, i had said that and i think, you know, so people miss and miss. since through the history of modern china they, they tend to divide it into the 1st 30 years and their mouth to about lay in a big shopping market reform, which china to what it is today. but i've always said that without the 1st year,

the 2nd that the market with mom would not have been in the 1st 30 years. obviously we had a lot of problems and a lot of mistake. but it was in the 1st 30 years, we took girl life expectancy in 1949 valley about 40 or i think was 41. you and i live, i live life expectancy in 1949. when people look mounted to already in the late sixty's in the late 1967, i think literacy rate went from negligible to over 87 percent among young people. in emily, $970.00 industrial base was built in the 1st 30 years, and more importantly, national independence, china a 5 year. nobody's invade it. and that allowed it to pursue it don't. half

after the 1st 30 years, the people, the public. so, shockingly warms were successful in many ways because the foundation late in the 1st 30 years and profound you've argued, has been the relationship between political power and capital. you claim that will these g 7 leaders capital exerts disproportionate influence over politics. here in britain, in nature of countries, whereas in china, capitalists just don't have that power. well, i'm a capitalist, i got no power in the medical power anyway. so the, i think what has gone astray in the, where in america and maybe in europe and who is after the cold war, they've gone on the new liberal path where the capital has the interest in capital

risen above the interest of the nation state. so capital began to pay politics and they looked after their interest. so that's how you see the wealth capital in liberal society and, and solidified authentication in america and west. and indeed the quality has exploded their food banks down the street from me here. remind us, what is the precise difference between capitalism in nato, the liberal country and capitalism. in china, we don't have capitalism. we have a marketing economy. we do have a capital, and we have people like me, will manage capitalism. to me means a market economy that you managed in a way that it generate efficient time allocating these thoughts or efficiently capitalism to meaning somehow capital,

the interest of capital rise above the interest of friday of the whole. and they capture the process for their own benefits and that we don't want in this country. you often extol the virtues of marriage, socratic, communist party, congress. the definition. philosophically of meritocracy, easy and equality. do you don't see the dangers of the increase in the inequality in china? not just because of how successfully the in terms of market the economics china has become because of the system itself based on meritocracy. well, i've always said that china is in has americredit governance, but i never called the american see. i think there's an important distinction there . governments, me able people can raise, can rise through the ranks and become decision makers. and that's what

mary mary, govern me. so you want capable people or test it through the years and just like a good company, you will have people that are capable, your hire them at the bottom and they move, they food, their track record, and you give them all responsibility and how that's what, how government should work and you see the future enjoying that in terms of combat to equality, a return to some of the more socialist marxist principles that have arguably been last. well, yes i in the past we've seen a great transformation of china last night 10 years. the, i think the paradigm shift occurred in 2012 with the 18 party congress. and china has shifted from the 30 or 40 years prior to that,

which was the headlong pursuit of comic growth at whatever the cost actually. and that we're shifting away from that towards what's called more balance, well balance development, which really mean a common prosperity and more equitable society. so there are a lot of side effects of market economics that we had for food for date. equality is one of them. environmental degradation, it's another, an odd and corruption was another. so all of these issues needs to be addressed. and i think there's been a, a great transformation where the chinese society in china self perception and the national aspiration of the chinese people in my generation, especially among young people in my generation. we were primarily concerned about china impor and lacking about if you ask younger generation

autobahn post 994-2000 there, 34, in your minimum, by the way there of course they want economic opportunities, but their primary concerns are about any quality and sustainable sustainability for the future. so if you're a viewer in a nato country watching this interview, you're going to be thinking, hang on a minute. china is responsible for genocide every other day we hear about this alleged genocide in june. jang, and arguably, arguably a connected to china's lack of interventionism given it's afghan, has done the chinese officials now talk about and you have no free press and you're not allowed to. the chinese people is 400000000 young people. they're not allowed to understand the history of civilizations from all different points of view. what sort of society is that?

well, if that's what they want to believe, they can believe. if that's true, china is going nowhere. if that's true, china would never have achieved already, as he you know, the young chinese view jordan knowledge of the world. and that's the fact that we have the post $94000.00 generations. extremely lifelong about. i mean, i'm not saying wikipedia is that great, but we compete is banned in china. yeah. but well, base they can still get cnn. let me, let me give you one exam. ok. i'm so sorry. sorry. yeah, that's, yeah. but listen, i think that the year before 2019 alone about a 120 a 130000000 chinese people went abroad and came back the largest current outbound part of the country in the world by far so. so to say that

somehow chinese people don't know about what's going on in the world. i think they're battling mistaken goal. still be there more from the leading chinese venture capitalist and political scientists after this break. ah, ah, the news, the news in the welcome back. i'm still with venture capitalist and

political side as eric lee. you said the europe the urban project is basically finished. obviously a lot of people in britain agree with you because they voted for breakfast and the largest democratic vote in history in this country. do you see the response to china's rise in terms of sanctions, in terms of what many suddenly chinese officials believe is propaganda and the western media. these are the only responses left for brussels and stroudsburg. well, i wouldn't be so cut the mistake about europe and about the shepherd china. i think your project finishes, certainly in some trouble. i think it's in trouble because probably because it's taken on a overly geological direction for some time. and i think from self correct are needed and i'm, i'm optimistic about the future of europe and for the correct itself.

and we know that, but in terms of the relationship between europe and china and the western china, we're talking about the meeting late in the year. i was just looking at the numbers of countries. and that's the largest, 3 largest economy of us, japan in germany. guess who is their largest trading partner offering china in the u. k. china, the biggest in full market. there are 200000 chinese students studying k universities right now. paying $1700000000.00 pounds a year and tuition. it's probably the largest thought the foreign revenue in k universe days. so they're extraordinary interconnectivity between china and all the

european countries. very, there is the indic electricity in china, just replaced, as you say, germany as britain's big, simple market. but you know about the sanctions. what the businessmen think, watching this program, knowing the 3rd party sanctions, china is now saying they're going to retaliate against us. trump era sanctions that have been continued through to biden. what is the business? what supposed to think despite all the big figures of huge india connectivity about the future is this is, this is unstable. how can i make sure that the governments here in europe and are going to sanction me for some elements in the supply chain? well, it's unfortunate, i think it's defeated. like i said, you know, china is the largest trading power in the world today, and it's the largest trading nation in the history of the world. so if, if the country is one of a and they, i fully china, they're going to be isolating. but i mean, china is built in to the economic well,

the can only exist and i know that it's been reducing the amount of bonds us bond between buying us debt is increasing. it's now $9000000.00 up $1.00 trillion dollars of us debt. and why, why is china so interested in, in optimism for the american dream as we've seen, the recent instability in the united states. i'm not sure. optimism is the right way to describe the national relationship. china, obviously there's a lot of why, why in the debt? because the economic way to chime and of the trading relationship equation has to balance sewing while mentally, i mean, i'm not a economist comments. i believe they will tell you that the u. s. consuming too much and making a savings and that that's why it's invalid. you know,

one way out of the reliance on the federal reserve, which obviously that is into linked to and lots of talk even in nature, countries about the mass printing of money here in britain, bank of england and the federal reserve is crypto currency. why it's china clamping down so hard on crypto currency? mine is that would make countries all over the world in the developing world, independent of a federal reserve, which arguably operates for u. s. interests. i'm not an expert currently, but what i'm read is there are 2 issues. one is extraordinary energy come to mind. so i think that's one of the reasons they are trying to control it. and the 2nd reason, obviously it's a currency that poly regulated at the moment. so they're probably out of potential

for financial. i mean that's a better way, i think are cracking down on crypto currency in the future. i think the currency does have a role. i think countries the cooperative work worked together to, to, to develop the rules of the road. but i think the very early stage. yeah, i mean those who are full of their current, so you'll get solar and water in modern development actually is that they should be which is that one problem. the other current that means i think china is at the bottom of that. and already the united states is looking into that too, but i mean, when you talk about regulation, that would be the united states, regulate, regulating the dollar, trying to prefer that. no, i think china will be regulating its own army. i mean, fundamentally what is,

what are the big differences and perhaps reforms that nato countries fulfilled suffering. the legacy of the 20 way crisis could learn from china or the history is just to, to different. i mean, written, habitable service, people say vaccination program here in britain benefited from the creation of the national health service in the, in the post war period. are there other lessons that western european countries can learn from china recovering from the impacts of new liberal policies? i think the western countries are really trying to develop a way to keep china down. they need to reform what the, where america and europe need reform, bad like they need to reform their systems to make them work better. less politics, less ology, and more. delivering practical good and practical benefits for their people. that's

what governments tell their people all the time in the major country. that's exactly what they were trying to to. and in fact, you know what, what the big issue, i think with western country is that somehow they have commenced themselves that there's only one form of democracy as called liberal democracy. and they've made this length of liberalism and democracy, only liberal society can give them a crack. and i think that's all there could be other forms of democratic governance . i, i, for one thing, china is very democratic and it's not liberal. democratic. western countries tend to believe that somehow you have to be liberal democratic and in fact, i think liberalism has left to a lack of democracy in western countries as maybe the west left democratic. so i

think that's something that we ought to consider in western countries. and yet the peoples of europe, the vast majority of them are sure they are the ones living in the democratic societies and you are not i, i think, you know, the west tends to measure of democracy by procedure. and what that for liberalism is it's about procedures. so if you follow these procedures correctly or follow the thing to sions correctly, you have that condition nation democratic. even if you're starving to death, you're democratic. i think, well, the chinese that is for me, i think democracy ought to be measured by outcome by resolve. so if you're delivering a better life for a large number of people and go to the own people, of course your democratic. if you're not delivering hub democratic argument,

i mean some may be asking, as we hear the rules based international order being recited here by up all additions, all the time. that the nature is losing patience with china. morris johnson sent the biggest war ship in the royal navy towards china's maritime borders. china is allowed 400 bases in circle your country. and obviously companies, big companies who are way obviously banned from the 5 g infrastructure of this country. it is if it's, if the torque is being ratcheted up or multiply and the communist party of china is trying its best talking a bit more the wolf diplomacy. i don't know whether she just brings against it. now, the wolf differ busy, but it's as if it doesn't realize how in circles and how isolated it

is in the world despite all the interconnectivity isolated militarily under siege. i think that's an unfortunate development. i think it's contrary to what we know are the facts on the ground and what we know from history. so i'm always that, that china, you know, 2030 years ago, china, chad, the chinese before this idea, people right now they want it to rise. people at the time a lot of people thought, you know, but i was not credible and nobody believed it. but looking back i think people rise has already happened. we went from a for a growing country to the great industrial power house that china is today in merely 2 generations, 2nd largest economy and the largest economy by purchasing power parity. yet,

china has invaded a single country, not a single shot, fired. and i'm present it in human history. if you review the survey history, the rise of every great power on the higher the roman empire from the british empire to america manifest destiny to the rise of modern japan, modern germany. almost all actually, all of them were accompanied by great flesh at colonization of entire continents killing off slaves. much of entire population invasions wars and china thrive has been faster and bigger than them all. so far not a shop has been inspired and that's a great accomplishment. and instead of celebrating this accomplishment

encouraging for the development, we have these hostilities that developing among western powers and i think process an unfortunate and disappointed maybe even in the global south recognize those chinese achievements. i know the, the programs in latin america and in africa inside these to asia. here in britain, you probably know about media censorship. we have julie and son being tortured up the road here in bel much prison. according to the un, china's network c, g, g n, defacto band here by regulators. how can china get this message out to the world that it comes in peace. if every time any official, medium tries to speak it's suppressed. and journalism, arguably in nato countries, is, well, some people accused of being captured by the military industrial complex. well,

i tell you, i don't have any idea how to get the message across, but it will be and what the media don't want to portray china that's truthful to their own people. that's their loss. and they're doing the service to their own people. and they're losing credibility among 1400000000 chinese people as well. and i think, you know, it's on them. eric lee, thank you. and that's for the show. what we'd like wednesday when vladimir putin needs with joe by mid geneva until then keep in touch with the social media and tell us of using the donation media reporting on china. it's for the join me every 1st day on the alex simon show. and i'll be speaking to guess in the world, the politics sport, business. i'm show business. i'll see you then. me

the sad lines. it's no stability, oh predictability from america. let me tell you to regret the state of the relationship with the u. s. in an interview. with nbc ahead of his 1st president biden mall biden, in turn called susan, a worthy adversary. yet, employees giving a direct answer as to whether he still thinks protein is a killer. joe biden promised half a $1000000000.00 if k jobs for nations. but it seems they won't be available for everybody. we look at how washington is favoring allies ah.